Health Care

Health Care

How do health care reform and taxes connect? The Affordable Care Act is single largest change to the tax code in two decades. Find help navigating the complexities of the new health care legislation, Medicare, Medicaid and other medical deductions.

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Valued Pioneer
Posts: 3
Registered: ‎03-03-2014

rental

I have a rental  property, that I am still paying on.  would all of the interest/tax information go in the "income" section, or in another section.  

Tax Pro
Posts: 5,351
Registered: ‎02-23-2016

Re: rental

Hi psua,

 

Your interest and real estate taxes are indirect expenses of the rental.  They will go in the expense section of Schedule E.  Your rental revenue is entered just before you get to the expense part.

 

In the H&R Block software your expenses will be entered in the adjustments & deductions section of the interview.

 

If you have any other questions I'll be glad to help.

 

Louis,

Senior Tax Advisor (Tampa, FL)

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Trusted Pioneer
Posts: 5
Registered: ‎04-08-2017

Converting a home to a rental property

We moved from our old home to a new one out of state. We converted the old home to a rental property on January 1, 2016.

 

What do we use as basis for the new rental (old home).

      Should we use what we paid 17 years ago or the current valuation of the property.